**23-Unit Apartment Building in the Heart of Pitcairn – Exceptional Income & Cash Flow Opportunity with Creative Financing!**

This 23-unit apartment building in the heart of Pitcairn presents an incredible investment opportunity with significant income and cash flow potential. While the property is currently not operating at its full potential, it offers an excellent chance for the right buyer to stabilize the building and unlock its true value. 

**Income & Cash Flow Potential**

With 23 rental units, this property is already generating solid income, but there’s room for further growth. The building features a designated laundry area, where installing coin-operated laundry machines could provide an immediate boost to cash flow, adding an additional revenue stream for the new owner.

**Stabilization Needed**

The property requires some attention to reach its maximum potential. Currently, it's underperforming and will need to be stabilized to maximize income. Additionally, there may be a need for fumigation to address bugs and insects found during our recent walkthrough. However, once these issues are addressed and the property is stabilized, it will be a **cash cow**, ready to deliver exceptional returns.

**Creative Financing – Take Over a Low-Interest Mortgage!**

This deal is even more attractive thanks to the creative financing available. The buyer can **take over the seller’s existing mortgage** at a fantastic **4.5% interest rate**—a highly favorable rate in today’s market. This means more favorable loan terms and less need for new financing, allowing for smoother cash flow from the start.

**Seller Willing to Carry $100K Second Mortgage**

In addition to assuming the current mortgage, the seller is willing to carry a **$100,000 second mortgage** with equal monthly payments, making financing even more flexible for the buyer.

**15% Down Payment & Turnkey Investment**

The new buyer can secure this deal with just a **15% down payment**, which covers both our assignment fee for structuring the deal and the down payment to the seller. This low barrier to entry allows you to acquire the property with less upfront capital and start generating returns sooner.

**Key Highlights**

- **23 Units in a Prime Location:** High demand for rentals in the area, with potential to increase income once stabilized.

- **Value-Add Potential:** Installing coin-operated laundry machines will increase profitability.

- **Creative Financing:** Take over the seller’s low-interest mortgage and benefit from a $100K seller-carry second mortgage.

- **Stabilization Opportunity:** With some stabilization work, including potential fumigation, the property can become a highly profitable asset.

- **Low Entry Costs:** 15% down payment covers both assignment fee and seller’s down payment.

This property is perfect for an investor looking to take advantage of creative financing, add value, and turn a currently underperforming building into a cash-flowing powerhouse. With minimal upfront costs and the ability to stabilize the building, this is a fantastic long-term investment opportunity in the heart of Pitcairn.

Property is being operated like hotel or a sober living facility almost, none of the tenants are on a lease. There's an in house manager that handles all of the management, repairs, request and collections. Units are rented anywhere from 400-500. Most of the units are sleeping room or dorm style apartments with common hall way and wash area. Rent Rolls, Mortgage Statements and Seller Finance Addendum Signed and ratified by all parties will be shown to serious buyers

• Closing to be held by Empora Title, PV Settlement or Laurel Settlement
• Buyer pays ALL closing costs
• Cash and Hard Money Only
• $2,000 non refundable deposit 
• Property will be delivered vacant
• Property will be delivered with a clear title